SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Grifols S.A. - GRFS
NEW YORK, March 27, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Grifols S.A. ("Grifols" or the "Company") (NASDAQ: GRFS). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Grifols and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On January 9, 2024, hedge fund Gotham City Research issued a short report on Grifols, alleging that the Company manipulated its debt and EBITDA figures to artificially lower its leverage. The short report came several days after Grifols agreed to sell roughly 20% of its equity stake in Shanghai RAAS to Haier Group for close to $1.8B billion.
Following publication of the Gotham City Research report, Grifols's American depositary receipt ("ADR") price fell $2.43 per ADR, or 21.83%, to close at $8.70 per ADR on January 9, 2024.
On March 5, 2024, Moody's placed Grifols on review for downgrade. On this news, Grifol's ADR price fell $0.46 per ADR, or 6.94%, to close at $6.17 per ADR on March 5, 2024.
Then, on March 6, 2024, Gotham City Research published a second short report on Grifols, expanding on its earlier allegations regarding the Company.
Following publication of the second Gotham City Research report, Grifols's ADR price fell $0.70 per share, or 11.35%, to close at $5.47 per share on March 6, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
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